Vice Media Announces Massive Layoffs and Website Shutdown
TL;DR Summary
Vice Media Group is set to lay off "several hundred" employees and discontinue publishing content on its website, Vice.com, as part of a major restructuring aimed at addressing financial challenges. The company plans to focus more on social channels and partner with established media companies to distribute its digital content. Additionally, Vice is in advanced discussions to sell Refinery29, the women-focused media company it acquired in 2019. The changes come after Vice filed for Chapter 11 bankruptcy protection last year and closed a $350 million sale to a group of its former lenders.
Topics:top-news#business#digital-content#financial-difficulties#layoffs#restructuring#vice-media-group
- Vice Will Cease Publishing on Vice.com and Lay Off ‘Several Hundred’ Staffers, CEO Says Variety
- Vice to lay off hundreds of staffers, stop publishing content on its website CNN
- Vice's New Owners Prepare to Slash What's Left of Its Work Force The New York Times
- Vice Media to Stop Publishing on Vice.com, Plans to Cut Hundreds of Jobs - WSJ The Wall Street Journal
- Vice News’ Top Editor Tells Staff He Doesn’t Know if Flagship Website Will Shutter Hollywood Reporter
Reading Insights
Total Reads
0
Unique Readers
1
Time Saved
3 min
vs 4 min read
Condensed
86%
677 → 93 words
Want the full story? Read the original article
Read on Variety